ok if you want to have a look at Adelaide then you have a few options (these are all new estates, not knock down start over areas):
One very helpful site for you may be
http://www.landdiscovery.com.au/estates.php?pag=2
- Underdale - 7km West of CBD, previously a Uni SA campus. Display village has gone up and parcels being sold. Definitely would'nt have problems with vacancy this close to town. More info:
http://www.promenade.net.au/home.html
- Northgate Stage 2 - 8km North East of CBD, the last large greenfields land left near Adelaide CBD. Currently cutting in the first streets for the display homes. Parcels to start end of year I believe (although by the speed of the works so far, I'd say probably next year). Planning is calling for small blocks here, and multi level apartments. Vacancy should'nt be a problem here. For more info:
http://www.elton.com.au/talknorthgatest3p1/
- Playford Waters - 28km from CBD in the subrubs of Smithfield (next to Elizabeth sububrs). Here you can probably find much cheaper packages as the land is relatively cheaper. Vacancies in the area are very low at the moment, about 1% last time I checked, but with a new house, you'll have absolutely no trouble finding a tennant.
- Seaford - 29km from CBD, sorry was there Sunday but I've forgotten the name of the development & their website, but fairly large and already under way there. Not sure on rental situation down there sorry.
Then if you want to move out of the city a bit you can go to new estates in Barossa Valley, Mt Barker, Virginia, Aldinga Beach etc.